DEAL SIZE
$1,000,000
Everglades Lumber and Supply
COMPANY
Everglades Lumber & Building Supply, established in 1941, provides hardware items and building needs of general contractors, developers, architectural firms and builders among others in the trade. Its store has an assortment of more than 50,000 hardware items with a selection of hardware, tools and other sundries. Everglades Lumber & Building Supply’s products include power tools, hammers, nails, screws, rivets, washers and hand tools. The company is one of the largest distributors of lumber in south Florida. Its facility in Miami unloads and delivers 50 rail cars of material a month. Everglades Lumber & Building Supply operates a full service millwork facility. The craftsmen produce custom interior and exterior doors and mouldings. The company offers packaged millwork and stock millwork for projects. Everglades Lumber & Building Supply s facility sits on seven acres in the heart of Miami with a fleet of more than 30 trucks supplying lumber, rebar, millwork and sundries to projects sites all over South Florida including Monroe, Dade, Broward and Palm Beach counties everyday.
OVERVIEW
- 50 year old Lumber Supply business that sells to major home builders in the South Florida market
- ACM Capital Partners was retained by the Company to assist with a financial restructuring in early 2010
- The Company met a decline in business during the economic crisis
- The business fell off quicker then the Company could right size operations
ACM VALUE ADD
- ACM advised the Company on organizational changes to right size the business
- ACM helped the Company reposition themselves in the marketplace
- ACM professionals worked with the senior lender and the Company to restructure and reduce total indebtedness by $15 million
- ACM assisted management with restructuring vendor payments and streamlining cash flow in order to improve liquidity
- ACM sourced a working capital debt partner through which provided the Company with working capital to re-build its sales
